Read the report published by Inkwood Research on “Smart Transformers market“
What is smart transformers?
The smart transformers is the inner part of the smart grid. It works independently and supply’s the precise amount of power needed; retort abruptly to the oscillation inside the power grid which acts as an electromotive force regulator to assure that the optimized force is not disturbed.
The first transformers was designed by Károly Zipernowsky, Miksa Déri, Ottó Bláthy of the Austro-Hungarian Empire. They used the transformer in both commercial and experimental systems. Later, William Stanley, Sebastian Ferranti, and Lucien Gaulard finalized the design.
The Smart Transformers market was valued $1127 million in 2016 and is proliferating to $5718 million by 2025, at 10.35% of CAGR during the estimated period from 2017 to 2025. The increased production of electricity amid the globe is the major reason propelling the advancement of the smart transformers market globally. The application of transformers is increasing rapidly in sectors like buildings, industries, residential areas, etc. Hence, increasing demand for electricity is boosting the requirement for smart transformers.
The top companies in global smart transformers market:
The General Electric is the United States based company, established in the year 1892, headquartered in Boston, Massachusetts. The company supplies products process system solutions, nuclear reactors, distributed power gas engines, etc. through its power segment. The company also manufactures products for healthcare and renewable energy sectors.
ABB Group a power and automation Company, established in 1988 by a strategic merger between ASEA (1883) of Sweden and Brown, Boveri & Cie (1891) of Switzerland. The company is located in Zurich, Switzerland. ABB is known for a wide range of products in verticals like power and automation technology, robotics. The company is diversified in countries like Switzerland, India, Sri Lanka, France, Hungary, Italy, Japan, China, Canada, Belgium, Finland, Spain, UK, Netherland, and Ireland.
MITSUBISHI ELECTRIC CORPORATION
Mitsubishi Electric Corporation is an electrical and electronics manufacturing company, headquartered in Tokyo. The company was established in the year 1921. It produces and markets products for varied application; industrial, commercial and residential. Moreover, the company provides its services in finance, procurement, advertising, and others. The company operates in countries like Asia, North America, South and Central America, Europe, Africa, Oceania.
SCHNEIDER ELECTRIC SE
Schneider Electric SA an automation and energy management company, located in Rueil-Malmaison. The company renders energy efficient, reliable, safe and productive services to varied markets. The company’s product line comprises of solutions for the automation and control of critical power and cooling, smart grid, building automation and security, renewable energies, power, customized sensors and machines. The company operates in countries like North America, Australia, Asia-Pacific, Europe, and Africa.
Siemens AG Company is headquartered in Munich, Germany. The company’s product line is diversified into power and gas, wind power and renewables, energy management, building technologies, mobility, and digital factory. Additionally, it provides solutions and products for digitization, automation and electrification. The company’s operations are across Asia Pacific, Americas, the Middle East, Africa and Europe.
The key strategy adopted by these companies to retain its dominance in the global smart transformer market is merger and acquisition. They are strategically investing in key component manufacturing units that support them in the coming future. However, companies on the medium scale may involve in JV or sign MoU with power corporations to sustain in the regional market.
Author: Komal Surana
Sr. Content Writer and Editor, Inkwood Research